econometrics

econometrics
the application of statistical and mathematical methods in the field of economics to test and quantify economic theories and the solutions to economic problems. Chicago Board of Trade glossary
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The quantitative science of modelling the economy. Econometric models help explain and predict variables of interest. Bloomberg Financial Dictionary

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econometrics e‧con‧o‧met‧rics [ɪˌkɒnəˈmetrɪks ǁ ɪˌkɑː-] noun [uncountable] ECONOMICS STATISTICS
the branch of economics that uses mathematical and statistical methods to understand how economic systems work. Econometrics looks at important factors, for example interest rates, levels of employment, and government policies, and tests how changes to them could affect the economy in the future
— econometric adjective [only before a noun] :

• They use econometric models to search for the effects of the tax-reform law on the economy in general.

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   The use of statistical and mathematical methods to verify and develop economic theories. Also covers the development of plans and implementation of policies based on economic findings.

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econometrics UK US /ɪˌkɒnəˈmetrɪks/ noun [U] ECONOMICS
► the part of economics that uses mathematics and statistics (= the study of the number of times something happens or is present) to understand financial and economic information: »

Bank research is still too often based on complex econometrics, rather than talking to poor people in poor countries.

→ See Note ECONOMICS(Cf. ↑economics)

Financial and business terms. 2012.

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Look at other dictionaries:

  • econometrics — e*con o*met rics ([ e]*k[o^]n [ o]*m[e^]t r[i^]ks), n. the application of mathematics and statistics to the study of economic and financial data. [WordNet 1.5] …   The Collaborative International Dictionary of English

  • econometrics — [ē kän΄ə me′triks΄, ikän΄ə me′triks] n. [ ECONO(MY) + METRICS] the use of mathematical and statistical methods in the field of economics to verify and develop economic theories econometric adj. econometrician [ē kän΄ōmə trish′ən] n …   English World dictionary

  • Econometrics — Economics …   Wikipedia

  • econometrics — econometric, econometrical, adj. econometrician /i kon euh mi trish euhn/, econometrist, n. /i kon euh me triks/, n. (used with a sing. v.) Econ. the application of statistical and mathematical techniques in solving problems as well as in testing …   Universalium

  • Econometrics — The application of statistical theories to economic ones for the purpose of forecasting future trends. Econometrics takes economic models and tests them through statistical trials. The results are then compared and contrasted against real life… …   Investment dictionary

  • econometrics — noun plural but singular in construction Etymology: blend of economics and metric Date: 1933 the application of statistical methods to the study of economic data and problems • econometric adjective • econometrically adverb • econometrician noun …   New Collegiate Dictionary

  • econometrics — noun The branch of economics that applies statistical methods to the empirical study of economic theories and relationships. See Also: econometric, econometrician …   Wiktionary

  • econometrics — Economic analysis using a combination of empirical data, techniques of statistical estimation, and (usually) some form of multivariate analysis , such as regression analysis, applied to economic theory. Econometric models of the economy are used… …   Dictionary of sociology

  • econometrics — e·co·no·met·rics || ɪ‚kÉ’nÉ™ metrɪks n. method of examining economics processes using mathematical and statistical methods (building of mathematical models) …   English contemporary dictionary

  • econometrics — [ɪˌkɒnə mɛtrɪks] plural noun [treated as sing.] the branch of economics concerned with the use of mathematical methods (especially statistics) in describing economic systems. Derivatives econometric adjective econometrical adjective… …   English new terms dictionary

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